Stock market news today: Indexes fall on wholesale inflation reading – Markets Insider

US stocks fell on Friday, erasing gains made in pre-market trading after November’s Producer Price Index report showed wholesale prices still rising, a discouraging signal ahead of next week’s key Federal Reserve meeting. 
Wholesale prices were up 0.3% in November from the prior month, exceeding expectations of 0.2%. The data arrives as traders are girding for a slew of economic announcements next week, namely the November consumer inflation report and the next policy decision by the Fed. 
Fed fund futures have been steadily holding 75% odds of a 50-basis-point increase in interest rates next week, even after Friday morning’s dispiriting PPI figure. The worry though has become that the Fed will need to keep rates elevated for longer than markets had previously been expecting, with many commentators now saying they expect rates to hover close to 5% for much of 2023. 
Here’s where US indexes stood shortly after the 9:30 a.m. opening bell on Friday: 
Here’s what else is going on today: 
In commodities, bonds, and crypto: 
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